Notice of Event of Default in European Lingerie Group AB (publ)

To holders of the up to EUR 60,000,000 Senior Secured Floating Rate Bonds due 2021 with ISIN SE0010831792 (the “Bonds”) issued by European Lingerie Group AB (publ) (the “Issuer”) on 22 February 2018.

We have been informed that the Issuer has failed to fulfil its obligations under paragraph (a) of Clause 12.1 (Maintenance Test) (the “Net Interest Bearing Debt to EBITDA”) for the fourth quarter 2019. The Issuer has not provided evidence that an Equity Cure in accordance with Clause 12.1.3 (Equity Cure) has been performed within the stipulated thirty (30) Business Days from the delivery of the Compliance Certificate evidencing the breach. 

In our capacity as Agent, we hereby notify you, in accordance with Clause 14.10 of the Terms and Conditions, that an Event of Default under Clause 14.2 (Maintenance Test) of the Terms and Conditions have occurred and is continuing due to the Issuer’s breach of Clause 12.1 (Maintenance Test).

• Notice of Event of Default European Lingerie Group AB (publ)

This notice has also been sent by mail and email to direct registered owners and registered authorised nominees of the Bonds.

For further information, please contact the Agent:

Intertrust (Sweden) AB
Beatrice Gustafsson
Email: trustee@intertrustgroup.com
Tel: +46 70 141 10 82